Bitcoin broke the resistance level of $88,000, as strong volumes showed greater year-end confidence.
Ethereum was up as Wall Street closed at new record highs amid a Christmas rally.
The precious metals rally and overall optimism in the world helped risk-on instruments.
Crypto prices today showed mixed sentiments. Bitcoin breached the $88,000 mark, with Ethereum also showing positive growth. Both coins were boosted by the historic highs on Wall Street amid holiday enthusiasm and a precious metal rally. The high trading volumes and risky environment towards the end of the year made investors cautiously optimistic. Here’s what happened in the crypto market today based on CoinMarketCap data.
Bitcoin value increased by 1.40% within the last 24 hours to be valued at $88,845.75 with a market cap of above $1.77 trillion. The gains came as Wall Street continued its momentum throughout the week. Dow and S&P 500 ended at record highs on December 23. The Dow advanced 0.60%, while the S&P 500 rose 0.32%, making it an optimistic environment. This has contributed to an increase in crypto prices on Christmas (Decmber 25).
CoinSwitch Markets Desk noted, “BTC bounced 1.6% from $87,000 toward $89,000. Today, around $28 billion in crypto options, including $23,700 billion in Bitcoin, are set to expire. Until then, prices may mostly move sideways in a volatile range as market makers hedge positions and pin BTC near key levels. Once the expiry is complete, this pressure might fade. A quick dip to trigger stop-losses is possible, but large expiries are often neutral-to-bullish. Currently, BTC has support at $87,000 and resistance at $89,000.”
The coins that showed an uptrend today were:
Ethereum prices rose 1.02% within a day to reach $2,967.82, with its market value at $358 billion. The second-largest cryptocurrency recorded a daily trading volume of $15.4 billion. Solana price inched higher by 0.36% to $122.80.
On the other hand, many tokens faced minor corrections or were on a downtrend at press time. These include:
Cardano price was down by 1.77% to $0.3531. BNB price faced a meager correction of 0.25% to $839.84. XRP price fell 0.21% to $1.86, while TRON dipped 0.25% to $0.2794.
In terms of stablecoins, Tether was seen trading at $0.9991 with little action, and USDC traded flat at $0.9996. However, the popular meme coin, Dogecoin, dropped the most among the world’s top ten tokens by 2.35% to $0.1253.
Also Read: Crypto Prices Today: Bitcoin Price at $87,077, Ethereum Slides to $2,934, XRP Holds $1.85
The traditional safe-haven assets recorded a steep jump in value. The silver price touched a record high of $74.89 on December 26. The rising demand for solar panels, electric cars, and data centers buoyed the price. Supply bottlenecks in mining units made the price jump more evident.
Gold prices also followed similar trends, ranging around $4,480 per ounce after breaking a record price above $4,500. Traders seem to factor in a favorable interest rate scenario for next year, which is ideal for precious metals and risk assets such as cryptocurrencies. This came against a backdrop of continued geopolitical tensions, with US moves on Venezuelan oil shipments heightening market uncertainty.
Moscow Exchange and St. Petersburg Exchange announced plans to start trading in cryptocurrencies once the legal framework in Russia is ready. The two bodies stated that the infrastructure required to embark on trading is ready.
Russia's central bank has recently proposed opening the cryptocurrency market to both retail and sophisticated investors. Retail investors will face an annual limit of 300,000 rupees for highly liquid tokens, and sophisticated investors do not have any restrictions but are barred from buying anonymous digital currencies.
This draft classifies crypto as a high-risk investments again and prohibits using it for internal transactions. Legislative modifications are expected to be formalized by July 1st, 2026, and afterwards be enforced a year later. Russian brokers perceive an opportunity to migrate millions of users from illicit trade to licensed environments.
Also Read: Crypto News Today: Coinbase and Gemini Lose Access in the Philippines as VASP Enforcement Tightens
Cryptocurrency prices today were influenced by general risk tolerance, with both traditional and crypto markets experiencing the benefits of year-end momentum. Factors such as the stock market hitting a new historical high and the appreciation of precious metals resulted in positive performances among tokens. A sense of optimism remains among investors amid the end of the Santa Claus rally and Year-end enthusiasm.
1. Why are crypto prices going up today?
Crypto prices are up because of healthy gains on US stock exchanges, which recorded record highs. If stocks are performing well, investors tend to become risk-takers. The optimistic market is why there is buying activity on Bitcoin, Ethereum, and other major cryptocurrencies.
2. What is the performance of Bitcoin over the last 24 hours?
Bitcoin increased by about 1.4% over the past 24 hours and was trading above $88,000. This is indicated by the high volumes being recorded. It is a result of the positivity being witnessed in the international market.
3. Did Ethereum and altcoins also gain?
Yes, Ethereum was up over 1% as well as Solana was on an uptrend among the leading altcoins. However, other top tokens faced correction and a downward trend. These included Dogecoin, followed by Cardano, and then XRP. The mood in the markets was mixed for leading currencies.
4. How is Wall Street involved in today's crypto market movement?
Wall Street registered a new record, with the Dow and S&P 500 closing at a record-breaking high. These developments instilled optimism across other markets. These rallies frequently trickle down into the crypto market, as traders feel comfortable taking on risk.
5. How might world events affect the future of crypto?
Geopolitical uncertainties and changes in policies may influence market trends. Although market optimism is supportive of prices now, it would be dependent on interest rates, global stability, and new crypto policies, which may emerge in major economies.
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